NetApp Beats on Top and Bottom Line
NetApp (NASDAQ: NTAP) reported fiscal first-quarter profit of $0.60 per share, with revenues of $1.49 billion.
Consensus called for NetApp to earn $0.57 per share on $1.47 billion in revenue. While revenues were lower than last year, it still beat expectations due mainly to an increase in storage sales and maintenance contracts.
Additionally, guidance was for revenues in the range of $1.49 billion to $1.59 billion, with EPS of $0.66 to $0.71, both in-line with consensus.
NetApp is trading slightly higher after hours, with shares up one percent at $39.74.
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